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Feed costs will be an ongoing concern in fiscal 2011, with the cost per dozen chicks produced up by four cents compared with a year ago. Cal-Maine earned $15.2 million, or 63 cents per share, for the period ended Nov. 27. That's down from $16.1 million, or 67 cents per share, a year earlier.
The performance missed the 72 cents per share that analysts polled by Thomson Reuters expected. These estimates usually remove one-time items.
Cal-Maine's stock dropped by nearly 4 percent, or $1.30, to $32.52 in afternoon trading.
Revenue climbed to $234.5 million from $229.2 million, helped by higher average selling prices.
President and CEO Dolph Baker said egg market prices were close to yearly highs during the quarter. Specialty egg sales continue to grow, he added.